Past event

Conference

Global Financial Forum: Building a New Financial Order

26 Apr 2010 - 00:00 to 27 Apr 2010 - 00:00

Chatham House, London

The fallout from the financial crisis has yet to be contained. Governments have taken steps to relaunch economic growth and stabilize the financial sector, but they must balance these goals against the needs to reflect public sentiment about banks and to control government deficits.

This conference will examine the impact of the proposed regulatory measures on the financial markets and consider the outlook for the global economy.

  • What is necessary to create a new, more stable global financial order and how far will global cooperation extend?
  • Will new financial regulatory rules contain excessive risk-taking? If so, what are the downsides? Will more rule-making invite more gaming?
  • What are the implications of government intervention and guarantees for future economic growth?
  • To what extent is it possible to prevent future financial crises, or are crises too deeply rooted in human behaviour?

  • Charles Collyns

    • Assistant Secretary for International Affairs
  • Jaime Caruana

    • General Manager
  • Sean Hagan

    • General Counsel and Director, Legal Department
  • Dr DeAnne Julius

    • Chairman
  • Robert P Kelly

    • Chairman and Chief Executive Officer
  • Christine Lagarde

    • Minister of Economy, Finance and Industry
  • Noel Lateef

    • President and CEO
  • Gary von Lehmden

    • Chairman, British American Business and
  • Dr Robin Niblett

    • Director
  • Duncan L Niederauer

    • Chief Executive Officer
  • Vikram S Pandit

    • Chief Executive Officer
  • Barnabas Reynolds

    • Partner, Financial Institutions Advisory and Financial Regulatory Group
  • Nouriel Roubini

    • Professor of Economics, New York University
  • Fabrizio Saccomanni

    • Director General
  • Paola Subacchi

    • Research Director, International Economics
  • Ethiopis Tafara

    • Director, Office of International Affairs
  • Robert Thomson

    • Managing Editor

26 April 9am - 4 pm

Session One: Rebalancing the Global Economy: Overview

09.00 - 10.30

Chair
Dr Robin Niblett
Director, Chatham House

Opening remarks
Gary von Lehmden
Chairman, British American Business and
Managing Director, Citigroup

Christine Lagarde
Minister of Economy, Finance and Industry, France

10.30 - 10.50 Refreshments

Session Two: Restructuring the Financial Sector

10.50 - 12.45

  • What are the alternatives for the future structure and role of the financial sector in the global economy?
  • Given the implicit state guarantees now given to all deposit-taking institutions, should the state play a bigger role in dictating their activities?
  • What plans exist for international coordination and supervision?
  • Will the proposed new rules for capital requirements be sufficient to ensure adequate protection against over-ambitious risk-taking?
  • What is the best way to link compensation with employee performance? How can the interests of shareholders and managers best be aligned?

Chair
Dr DeAnne Julius
Chairman, Chatham House

Robert P Kelly
Chairman and Chief Executive Officer
BNY Mellon

Duncan L Niederauer
Chief Executive Officer, NYSE Euronext

Ethiopis Tafara
Director, Office of International Affairs
US Securities and Exchange Commission

Jaime Caruana
General Manager
Bank for International Settlements

Barnabas Reynolds
Partner
Financial Institutions Advisory and Financial Regulatory Group
Shearman & Sterling LLP

Questions and discussion

12.45 - 14.30 Lunch

Lunchtime Address

Vikram S Pandit
Chief Executive Officer, Citigroup Inc

Session Three: Restoring Financial Stability

14.30 - 16.00

  • How and when will global imbalances be reduced? Is co-ordination possible between debtor and creditor nations?
  • Will the dollar remain the reserve currency of choice?
  • What role will commodity-based economies play in the global economy?
  • Are new institutions needed to ensure and enforce global financial stability, or do existing institutions need new governance, roles, or powers?

Chair
Robert Thomson
Managing Editor
The Wall Street Journal

Nouriel Roubini
Professor of Economics, New York University
Chairman, Roubini Global Economics

Charles Collyns
Assistant Secretary for International Affairs, US Treasury Department

Sean Hagan (under Chatham House Rule)
General Counsel and Director, Legal Department
International Monetary Fund

Fabrizio Saccomanni
Director General
Banca d'Italia

Paola Subacchi
Research Director, International Economics
Chatham House

Closing Remarks
Noel Lateef
President and CEO
Foreign Policy Association

1600 End of the conference followed by a reception sponsored by

© The Royal Institute of International Affairs, Foreign Policy Association and British American Business 2010